goib_a tool

7/26/2019 GOIB_a tool

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GOIB Scheme 2011

1For details, please refer to circulars.


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Eligibility

Cost Ratio 16%

2

Cost ratio calculated on eligible premium


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BASIC INCENTI E BON!SThe e"cess o# $ &ali#yi'g()emi&m* o+e) the a''&al

)em&'e)atio' ,ai-

% o# s&ch e"cess

6 times 12.55 % +

7 .50 times 0.60% +10 times 0.60% +

11 times 0.30 % +

12 times 0.25% +

15 times 0.30% .

3


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E"am,le. nnual !emuneration" 600000, #ligible $remium" 12500000

Cost !atio" .&0% , 'ualif(ing $remium" 11500000

Slab ()emi&m Amo&'t Rate BIB

#)cess of 6 times 7*00000 12.55% **1 50

#)cess of 7.50 times 7000000 0.60% 2000

#)cess of 10 times 5500000 0.60% 33000

#)cess of 11 times *00000 0.30% 1 700

#)cess of 12 times 300000 0.25% 10750

#)cess of 15 times 2500000 0.30% 7500

Total 1/ 60% 10 /00


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odif(ing t e 'uantum of - -

6


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o-i#icatio' i' BIB

A--itio' 3S&bt)actio' to BIB 4 o# 5e+ O##ices

% o# 5Os i' theG)o&,

780% /8

96% 720% to 80% 2/6

710% to 20% :/1

0% to 710% 8;9


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>o? to ea)' I'ce'ti+eo' I'ce'ti+e

10 Ti,s

&


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G)o?th i' Eligible ()emi&m

Co'-itio's A--itio'al I'ce'ti+e

@i Cost )atio . &, to 9%@ii G)o?th i' eligible ,)emi&m . 71:%@iii i'im&m Eligible ,)emi&m. 2: acs

A--itio'al 2 % o# BIB #o)e+e)y :% i'c)ease o+e) 1:%g)o?th i' eligible ,)emi&m

@i Cost )atio . mo)e tha' 9%@ii G)o?th i' eligible ,)emi&m . 720%@iii i'im&m Eligible ,)emi&m. 2: acs

A--itio'al 2 % o# BIB #o)e+e)y :% i'c)ease o+e) 20%g)o?th i' eligible ,)emi&m

a"im&m Rs 1 00 000

G)o?th is the ,&),ose o# i#e*


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(e)#o)mi'g 5e+elo,me't O##ice)s

Basic Co'-itio's Cost RatioD A--itio'alI'ce'ti+e

@i i'im&m se)+ice11 yea)s at thebegi''i'g o# A

a'-

@ii i'im&m :0 age'tsat the e'- o# A

!, to 2% /% o# BIB

o)e tha' 2% F &, to /% 8% o# BIB

o)e tha' /% F &, to 6% 2% o# BIB

o)e tha' 6% F &, to ;% 1% o# BIB

o)e tha' ;% F &, to 9% 0 :% o# BIB

I'c)ease yo&) S (I a'- checH ma)gi'al cases

be#o)e a,,)aisal e'- -ate 10

Cost )atio calc&late- o' &ali#yi'g ,)emi&m


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N&mbe) o# i+es ass&)e-

Basic Co'-itio's Amo&'t o# BIB A--itio'al I'ce'ti+e@ o) blocH o# e+e)y 80li+es i' e"cess o# ;00

@i i'im&m li+e< ;00a'-

@ii i'im&m()o-&cti+e Age'ts

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